Everyone At Morgan Stanley Jokes About The Feud Between Two Top Execs

First there was Lehman
Brothers Kuhn Loeb co-CEOs Lewis Glucksman and Peter
Peterson. Their fighting reportedly lead to departures
and the sale of the firm.

Then there was Goldman Sachs's Henry Paulson, who was chief
operating officer when he fought with with chief executive Jon
Corzine. Paulson reportedly won control by threatening to
leave and year later he replaced Corzine who was ousted.

The power struggle between the men, who have been running the
Institutional Securities Group since January 2010, has taken a
toll on the New York-based firm in frictional costs or lost
business opportunities, six former executives said.

Gorman reportedly doesn't agree.

BusinessWeek
says he is aware of their tense relationship and would likely do
something about if he felt the bank's business was suffering as a
result.

“The fact is, institutional securities just produced one of its
strongest quarters ever in a very challenging environment, with
the firm taking market share across many areas of sales and
trading and investment banking.”

Business at Morgan Stanley is doing well, he says.

But as investment banks face uncertain futures, teamwork could
only help.